Is This Why Stocks Are Suddenly Surging: NY Fed Cancels Today’s POMO Due To “Technical Difficulties”

Wednesday, February 24, 2016
By Paul Martin

by Tyler Durden

Just at the market began its torrid ramp higher today at 11:15 am on the dot, something else was expected to happen: the Fed’s open market buying, or POMO, of Agency MBS (yes, those still continue despite the end of QE because the Fed has to keep the level of its balance sheet flat and offset maturities).

Only today this did not happen. Instead, this is what the NY Fed said:

Wed, February, 24, 2016

Due to technical difficulties, the Wed, February, 24, 2016 (11:15 – 11:45am) agency MBS outright operation was cancelled. The operation will be rescheduled for a later time. Please continue to check this website for updates.

The Rest…HERE

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